With AbhiSalary, the fintech company aims to reduce financial stress for thousands of employees working at Naveena Group and its subsidiaries. Established in 1989 as a textile manufacturer, the group now operates in the textile, energy, steel, and real estate development sectors, focusing on sustainability.

AbhiSalary is a fintech company that is dedicated to providing financial solutions to employees working at Naveena Group and its subsidiaries. Their goal is to reduce financial stress and provide convenient access to financial services to thousands of employees in these sectors. Naveena Group, established in 1989 as a textile manufacturer, has since expanded to the energy, steel, and real estate development sectors with a focus on sustainability. AbhiSalary’s innovative technology allows for seamless integration with existing payroll systems, enabling employees to access their earned income and additional financial services conveniently. With AbhiSalary, Naveena Group is able to enhance employee satisfaction and engagement by prioritizing their financial well-being.

On the day of signing, Mr. Mohammad Zaidi, Director of Business Development and Sales at ABHI said, “We’re honored to serve Naveena Group and enable their 5,000 salaried individuals to access their pay anytime, anywhere, and make key financial decisions at any time of the day. We truly believe that AbhiSalary will increase productivity and improve the bottom line of Naveena Group.” ABHI Onboards Naveena Group to Provide AbhiSalary

Mr. Aman Tata, Director at Naveena Group highlighted the importance of AbhiSalary for employees by commenting, “We’re delighted to offer AbhiSalary as a financial wellness benefit to our deserving employees. We hope that AbhiSalary will help them in their time of need and reduce their financial stress.

The event, titled “Go Export with Alibaba.com,” will bring together existing and potential exporters to offer tips and counsel on ways to begin and develop an online export business, as well as address questions on the necessary skills required by Pakistani sellers to grow in the field. It will be the first event of its type to be held by Alibaba.com in Faisalabad.

The event will feature highly qualified guest speakers, including Mr. Song Song, Head of Alibaba.com Pakistan; Mr. Atif Munir Sheikh, President of FCCI and Mr. Muhammad Haider Zaidi, Law Specialist of AUC| Law.

Individuals interested in attending the event, either physically or virtually, can register for a seat here: link

About Alibaba.com

The first business unit of Alibaba Group, Alibaba.com is a leading platform for global B2B e-commerce that aims to make it easy to do business anywhere. Launched in 1999, Alibaba.com is engaged in services covering all aspects of commerce, including providing businesses with tools that help reach a global audience for their products and helping buyers discover products, find suppliers, and place orders online fast and efficiently. It serves millions of buyers and suppliers from over 200 countries and regions around the world. Alibaba.com to Organize Faisalabad Seller Summit.

The event, titled “Go Export with Alibaba.com,” will bring together existing and potential exporters to offer tips and counsel on ways to begin and develop an online export business, as well as address questions on the necessary skills required by Pakistani sellers to grow in the field. It will be the first event of its type to be held by Alibaba.com in Faisalabad. Alibaba.com collaborates with the Faisalabad Chamber of Commerce and Industry in a bid to boost e-commerce export in Pakistan.

Bank Alfalah Limited (BAFL) is one of the largest financial institutions of Pakistan and one of the most influential industry leaders when it comes to innovative Digital Banking products. In the past 2 years, Bank Alfalah has built the largest Cash Deposit Machine network of Pakistan – spreading across several cities and offering various useful cash deposit transactions to any walk-in customer with a valid CNIC. These services are available nonstop round the clock and without the need of using an ATM or Debit card.

Jubilee Life Insurance Company Limited (JLICL), is a well-known and leading private sector life insurance company that offers various customized insurance products for its customers. Along with its various insurance products for individuals and corporate businesses under conventional and Islamic modes of insurance, the Company flourishes in bringing best practices and world-class solutions to the financial needs of its customers. Going one step ahead with this aspiration to make buying insurance in a simple and hassle-free manner for its customers in this digital era, Jubilee Life is now ensuring new and more convenient ways of payment for its customers by offering various e-payment solutions.

Attending this event – the CEO of Bank Alfalah Limited ‘Mr. Atif Bajwa’ stated; “Digital banking and insurance have a bright future together and it is quite swiftly transforming the criteria of cash collection in Pakistan with customers preferring online channels over traditional ones in substantial numbers. Our partnership with Jubilee Life Insurance will offer customers, a non-stop and secured cash deposit service through Bank Alfalah CDMs.”

The MD and CEO of Jubilee Life Insurance ‘Mr. Javed Ahmed’ stated; “Our customers have always been our top priority. We are very happy to partner with Bank Alfalah to facilitate our customers in paying their premiums in a hassle-free and convenient manner. With the addition of this option, we now offer more premium payment choices to our customers as compared to any other insurer in Pakistan “

Besides the cash management client payments such as between Bank Alfalah and JLICL, CDM offers a variety of other cash services including Cash Deposit to Bank Alfalah or any other local bank, Loan payments, Credit Card payments, Mobile Top-ups, Utility Bill payments, School Fee payments, and Donations, etc. With over 220+ locations currently live and 300+ new locations being added, the Bank Alfalah Cash Deposit network is destined to migrate the majority of over-the-counter traffic of bank branches to this convenient digital channel in upcoming years.

Minister Dawood explained, “The retail sector contributes 18% of the GDP, employs 16% of the workforce.” He added that the retail sector was critical to fueling supporting sectors such as construction and transportation. He further stated that the growth of the retail sector was a strong indicator of development and progress in the country.

Industry stalwarts used the platform of cross-sector key stakeholders to identify areas where collaboration could be made and improvements could benefit growth. The aggregate representation of business and technology allowed participants to envision how they could create the future of their retail brands and be part of this accelerating ecosystem. Retail legends such as Seema Irfan, founder of Bareeze and Founder of Al Fatah stores, Irfan Shaikh shared insights into the challenges they faced in building brands and serving customers in Pakistan.

An underlying theme that was highlighted in addition to the future of retail, is how resilient brands survived the challenges of the pandemic and became more customer-centric upon their reopening. The conference was supported by Pakistan Fintech Association, P@SHA and A.F. Fergusson & Co. As Knowledge Partners.

Because of increased demand and a growing passion, the cryptocurrency industry is expected to grow from USD 1.6 billion in 2021 to USD 2.2 billion in 2026. Despite the various benefits of the crypto market, such as portability, divisibility, inflation resistance, and transparency, not every crypto exchange platform has been identified to utilize all of them. The currency’s flaws were obscured by its poor success rate and failed security, which included criminal activities, exchange rate volatility, and weaknesses underlying the blockchain technology’s design.

At a time when the government is planning legislation to effectively limit most private cryptocurrencies, the world’s first AI Digital Asset Trading Platform, ‘Bibox,’ is launching in Pakistan to revolutionize and unlock the full potential of decentralized funding. Bibox, which was launched in 2017, holds a Swiss VQF financial license and has over 10 million users in 160 countries.

The firm is the first of its type to offer a crypto trading platform with numerous innovative features. Some of them make money through crypto, copy trading, bot trading, and other decentralized finance services. When these capabilities are combined with AI technology, customers may enjoy unparalleled levels of efficiency and ease when trading cryptocurrency. Aside from that, the site has a simple and user-friendly layout that makes crypto trading for non-techies a breeze. World’s First AI Digital Asset Trading Platform ‘Bibox’ Enters Pakistan.

Bibox is almost set to go full throttle in Pakistan as a company. Keeping good ties with multinational initiatives in gaming, NFT, Defi, and other fields. From a commercial viewpoint, the platform will help traders and worldwide crypto efforts. The platform’s “Selected” segment, which provides a worldwide stage for firms with varied demands, now includes Super Start, S-POOL, Pre-taste, and the Global Public Blockchain Club, among other interesting new programs.

Bibox encourages millions of crypto traders in Pakistan, and therefore holds the highest market share in the country’s crypto trading, thanks to superior technology and solutions that provide complete anonymity and safety for users. Muli. G (Head of Asia) continued, “With a $10 million budget for marketing, hiring, and creating cryptocurrency-related goods and services, we expect to recruit roughly 50 individuals in Pakistan.” Bibox is now fully operational and dedicated to providing Pakistani customers with an exceptional experience.

Go to Bibox’s website to start your crypto journey with the world’s first AI-powered digital asset trading platform.

“We have now graduated eight cohorts from Lahore and Quetta in a short period of time, by dynamically adapting to extraordinary circumstances, transforming our offering, and launching several new initiatives such as programs in partnership with Saarland and Stanford,” said Saleem Ahmad, Chairman NICL and NIC Quetta. “At the Investor Summit today, I am proud to see the transformation and growth in these remarkable young entrepreneurs. Our aim at NICL is to continue supporting such talent and connecting with industry and academia to generate lasting impact,” he added.

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The 13 start-ups graduating are a diverse set of high-impact ventures, including QBio, establishing Pakistan’s enzyme biotechnology company; Dawa Asaan, Pakistan’s first smart pharmacy delivering pre-sorted medicines; Peervest, a digital equity-based crowdfunding platform that connects tech-enabled start-ups with eligible investors; Loading Champions, complete learning, coaching and recruitment solution; and Heirloom, that produces artisanal, sustainable and responsibly produced goods with elevated aesthetics. In the past, NICL’s graduating start-ups have gone on to raise funding after pitching at the Investor Summit; KalPay, a shariah-compliant BNPL service has already closed their pre-seed round via an angel investment of $100,000 and are in the process of finalizing their next round of funding.

Attending the Investor Summit and offering valuable feedback were an esteemed panel of investors and entrepreneurs from across the ecosystem, including Aatif Awan (Indus Valley Capital), Badar Khushnood (P@sha), Qasif Shahid (Finja), Salman Khalid (Chogori Ventures), Ali Farid Khwaja (KTrade.pk), Omair Ansari (Abhi), Usman Javaid (Ricult Inc.), as well as Yusra Solangi (Zayn Capital) and Shakaib Naqvi (Zayn Capital). Representatives from Engro Corporation’s energy team were also present to provide perspective on sustainable solutions and corporate innovation.

Speaking at the occasion, Badar Khushnood, Chairman P@sha and member of NICL’s Foundation Council observed, “The diversity, depth and professionalism of start-ups at the Investor Summit is heartening to see. Despite challenges posited by Covid, NICL has been able to build the right pipeline of start-ups and mature it effectively. I’m delighted that each pitch I saw today, reflected the right vision, exposure and confidence.” Start-Ups Launch Diverse High-Impact Solutions at NICL LUMS

Start-ups presenting at the Investor Summit undergo a rigorous six-month-long program, with in-depth training in Design Thinking, Law, Strategy and Business Modelling, Market Research, Communications and Entrepreneurial Finance. In addition, they receive one-to-one mentorship from industry leaders in their domains.  

The Center is now gearing up to welcome its ninth cohort, with ideas that solve problems in high-impact verticals across Pakistan. Representing fintech, Aamdani, a start-up founded by LUMS students, promotes earned wage access; Cashmail, founded to help ease chronic poverty, works on loan disbursement and recovery with the microfinance industry; whereas Zarai Zambeel provides digital financial solutions and services for farmers. Other ideas include Gamma Green Recycle which helps to recycle through cash incentives, SAY Global, which works on solving mental health and speech impediment issues, and Ability, which connects transporters with customers and provides end-to-end solutions.

Customers are provided convenience through friendly journeys, auto-filled forms, and real-time validation of their information e.g. Computerized National Identity Card (CNIC) and mobile number, etc. Moreover, documents e.g. Live photos, IDs, and Proof of Income are kept safe, keeping in mind customer security.

Commenting on MMBL’s digital initiatives, President & CEO MMBL Ghazanfar Azzam said: “MMBL recognizes the rapid growth in the adoption of digital banking solutions. Keeping this in mind, the Bank is committed to strengthening the digital onboarding in the account opening process using KYC technology (the online process of identifying and verifying individual customers) and improving the overall customer experience. By encouraging the application of KYC technology for secure digital onboarding of customers, MMBL is devoted to introducing innovative digital solutions, which will increase customer convenience, especially for those living in far-flung areas.”

MMBL’s Chief Finance and Digital Officer Sardar Mohammad Abubakr said: “MMBL is dedicated to delivering innovative and user-friendly digital services to promote financial inclusion for all, in Pakistan. This initiative enables customers to open an MMBL account in near real-time at their convenience, just by using their smartphone or computer. In addition, the MMBL Dost app empowers them to fully manage their accounts on the go, from sending money to investing it. By leveraging on technology and using it as an equalizer, MMBL continues to provide convenient and secure digital banking solutions for all its customers.”

Through digital account opening, MMBL customers can currently, open three types of accounts: Aasaan Digital Account, Aasaan Digital Remittance Account, and Freelancer Digital Account. The credit/debit limits on these are applicable as per the State Bank of Pakistan (SBP) guidelines. MMBL will continue to add more account types, for giving more options to its customers. MMBL Online Account Opening Solutions.

The digital onboarding of customers is a testament to the fact that MMBL is continuously working towards crafting friendly digital services, that enable financial inclusion and empowerment for all. By adopting SBP’s digital regulatory framework, MMBL continues to transform the digital banking landscape and foresees a shift to digital banking as users demand a safe and secure digital experience. Through continuous improvements in the customer journey, the Bank strives to deliver seamless and personalized digital banking solutions across Pakistan.

About MMBL

Mobilink Microfinance Bank Limited (MMBL) is Pakistan’s largest digital bank with over 34 million registered users including 14 million monthly active digital wallets. MMBL is a leading player in lending to small and medium-sized enterprises with over 800,000 traditional individual and micro-enterprise loans disbursed, alongside more than 11,000,00 digital nano loans disbursed till August 2021. MMBL is currently operating through 100 branches and a nationwide network of over 135,000 branchless banking agents. MMBL Registers Record Growth in M-Wallets.

MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan and also won a CSR award in the category of “Diversity & Inclusion Leader” by The Professionals Network. It is the only bank in Pakistan, microfinance or commercial, that was recognized by PACRA recently, as having a ‘Positive Outlook’ and continues to remain outside the agency’s Watchlist. Further, the Institute of Bankers Pakistan has also recognized MMBL as “Bank of the Unbanked” in recent years.

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The program focuses on uplifting women entrepreneurs through end-to-end partnerships, design thinking and business fundamentals upskilling, provision of women-centric products & services, as well as resources enabling women to set up digital shops while ensuring online safety. Furthermore, the initiative aims at empowering women through thought leadership on gender sensitivity, and their financial inclusion.

Just within 2021, over 100 women urban startups were upskilled on design thinking through collaboration with Google and National Incubation Centre, over 400 rural women businesses were upskilled through a Learning management system and in-person sessions covering business fundamentals through CARE, end to end support was given to women borrowers for establishing digital shops without cost through DARAZ, and students and academia were sponsored to promote solutions for Women Online Safety through hackathon with National University of Sciences and Technology. MMBL’s celebration of a milestone year under WIN.

Last year, the Bint-e-Hawwa deposits and saving accounts- a unique offering for women entrepreneurs, closed on the year-end with a total of over PKR 136 Million, while an amount of over PKR 1.8 Million was disbursed, under the same. Furthermore, the disbursement ratios to women grew by 25% YoY and the overall active women borrower ratio grew by 21.17% YoY. During the same tenure, MMBL also witnessed a 100% growth in female headcount across its extensive network of branches, thereby facilitating the seamless provision of its exclusive products for female borrowers.

While addressing the unique financial needs of women, MMBL launched its ‘9-Point Agenda for Financial Inclusion’ to promote sustainable and inclusive economic growth, highlighting key recommendations under the domain of Diversity & Inclusion (D&I) while identifying and investing in innovative digital financial solutions in product design and policy-making to promote women empowerment at all tiers.

Commenting on MMBL’s role in financially uplifting women, its Chief Finance & Digital Officer, Sardar Mohammad Abubakr said, “MMBL is committed to the cause of fostering financial inclusion through its diverse portfolio and offerings. Apart from providing digital financial products and services, the bank also trains its high potential women borrowers in various areas including but not limited to Financial Management, Personal Entrepreneurial Competencies, and Business Planning through dedicated Learning Management Systems with our strategic partners. With the help of its expansive network, MMBL has not only trained over 400 women borrowers and 100+ urban entrepreneurs but has financially empowered more than 350,000 women across the nation. Our key partnerships with multiple stakeholders including SBP, Care International in Pakistan, Google Developer Groups (GDG) Islamabad, National Incubation Center (NIC), Daraz, National University of Sciences & Technology, and IBTIDA have further enhanced women-owned SME’s by providing them appropriate platforms for their businesses’ sustainable growth.”

“Women’s financial inclusion is not only a critical part of national development, but the bedrock of financial sector development in Pakistan”, said Sima Kamil, Deputy Governor, State Bank of Pakistan. “Gone are the times when we aimed for a gender-neutral focus in financial inclusion.

Now, we are focusing on gender-intentional policies that stimulate women’s empowerment at all tiers and allow them to participate in the economic sphere. In this regard, SBP’s Banking on Equality policy launched in 2021 is a landmark initiative to embed a gender lens in the financial institutions’ policies and practices. I am pleased to see that MMBL’s WIN program strongly resonates with SBP’s agenda under Banking on Equality policy, and the contributions of the program during the last year are valuable and well-acknowledged by us.” she added. MMBL’s celebration of a milestone year under WIN

While celebrating its yearly accomplishments, MMBL builds on the success of the past and renews the sense of passion and ambition around dedicated resources targeted towards empowering its female borrowers. With its groundbreaking partnerships with several like-minded stakeholders, the bank aims to unlock the digital financing needs of women in both urban and rural areas. Going forward, MMBL strives to promote digital initiatives and will continue to collaborate with its strategic partners to ensure that the banking ecosystem is gender-responsive.

About MMBL

Mobilink Microfinance Bank Limited (MMBL) is Pakistan’s largest digital bank with over 34 million registered users including 14 million monthly active digital wallets. MMBL is a leading player in lending to small and medium-sized enterprises with over 800,000 traditional individual and micro-enterprise loans disbursed, alongside more than 11,000,00 digital nano loans disbursed till August 2021. MMBL is currently operating through 100 branches and a nationwide network of over 135,000 branchless banking agents. MMBL Registers Record Growth in M-Wallets.

MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan and also won a CSR award in the category of “Diversity & Inclusion Leader” by The Professionals Network. It is the only bank in Pakistan, microfinance or commercial, that was recognized by PACRA recently, as having a ‘Positive Outlook’ and continues to remain outside the agency’s Watchlist. Further, the Institute of Bankers Pakistan has also recognized MMBL as “Bank of the Unbanked” in recent years.

Disclaimer | Images are licensed to their respective owners.

With the opening of its 10^th store in Pakistan, Carrefour has expressed its great confidence in the country’s retail sector and underlined its desire to support the growth and prosperity of the communities it is a part of. The guests were also given a tour of the 15,000 sqm premises that will provide the community of Gujranwala with an elevated shopping experience.

Through its offering of over 25,000 products in the categories of consumer goods, fresh foods, electronics, home accessories and others, Carrefour Pakistan will bring convenience to the daily lives of shoppers and provide economic support to 170 households in the city through job creation and local sourcing of products.

Syed Fakhar Imam emphasized on the important role of the retail sector in the local sourcing of fresh produce for the modernization of the agricultural sector and its benefit for Pakistan’s economy. He also appreciated Carrefour’s role in creating this direct connection between supermarkets and farms which was effectively catering to the domestic food demand of fresh fruits and vegetables.

Speaking at the occasion, Umer Lodhi said: “We stand by our commitment of providing support to the local economy through our expansion plans and the opening of this hypermarket in Gujranwala is a reflection of this commitment in action. It is also a moment of great pride for us as we play our part in the economic revival of the country alongside the Government of Pakistan through the achievement of shared objectives, including sustainable community development.”

Working with more than 700 partners from across Pakistan, Carrefour continues to support and source from local producers. Committed to helping drive Pakistan’s economy forward, Carrefour continues its journey of growth, strengthening partnerships, and providing innovative retail services to shoppers.

In addition to the convenience of in-store shopping for quality products at its ten stores in Pakistan, Carrefour also offers its delivery service through the Carrefour Pakistan app to provide customers with another option for how to shop. The app can be downloaded from the Google Play Store and Apple’s App Store.

About Majid Al Futtaim

Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.

A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 17 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.

Majid Al Futtaim owns and operates 29 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, Mall of Oman, City Centre malls, My City Centre neighborhood centers, and five community malls which are in a joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in over 30 markets across the Middle East, Africa and Asia, operating a portfolio of more than 375 outlets including City+, the region’s first checkout-free store, and an online store.

The Company is parent to a Fashion, Home and Specialty retail business representing international brands such as Abercrombie & Fitch, Hollister, AllSaints, lululemon Athletica, Crate & Barrel, Maisons du Monde, LEGO and THAT, a Majid Al Futtaim fashion concept store and app. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimized environment resource management.